Tashkent, Uzbekistan (UzDaily.com) — Paynet JSC has acquired 100% of the state-owned shares in the National Interbank Processing Center (Humo) for US$65 million.

According to the State Asset Management Agency, the privatization process was concluded through open bidding, with Paynet emerging as the winner by offering the highest bid of US$65 million.

During the binding offer (BO) phase, six bidders were invited to participate. To ensure transparency, all bidders who signed a Non-Disclosure Agreement (NDA) were granted access to comprehensive analytical reports on Humo’s operations. These reports were prepared by Deloitte, which served as the privatization consultant.

Additionally, bidders were provided with the key terms of sale as outlined in the Term Sheet, following the agency’s announcement on 30 September 2024.

After evaluating the submitted offers, Deloitte selected three top bids, with Paynet’s offer being deemed the most advantageous.

The US$65 million transaction price is at the upper end of the indicative price range calculated by the consultant and exceeds the valuation determined by international auditing firm KPMG.

Moreover, Paynet has committed to ensuring the uninterrupted operation of Humo’s payment system and safeguarding the personal and banking data of its users.

The State Commission for Privatization and Coordination of Privatization Processes approved the results, declaring the transaction successful.

Paynet JSC, a leading fintech operator in Uzbekistan with over 18 years of experience, provides payment services to more than 1,500 suppliers of goods and services. Its platform serves over 20 million users annually.